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Actuant Corp. (NYSE: ATU), Milwaukee, WI, reported sales of $293 million for its fiscal first quarter 2019, ended November 30. Core sales increased 3 percent year-over-year and foreign currency reduced net sales by 2 percent. The company reported a loss of $17.5 million during the quarter.
Sales in the company’s Industrial Tools & Services (ITS) business were $149 million, up 5 percent compared with the prior year. Actuant reported double-digit gains in the Americas and solid service growth in Europe and the Middle East as well as product and service growth in Australia and Asia.
Sales in the company’s Engineered Components & Systems (EC&S) business were $144 million, down 2 percent compared with the prior-year period. Core sales growth was driven by increased demand in automotive, off-highway vehicle and concrete tensioning markets, as well as new platform wins starting production and price realization, partially offset by reduced China truck demand, the company said.